In a surprising big business move Reliance Consumer Products led by Mukesh Ambani has acquired TagZ Foods a direct-to-consumer (D2C) snacking brand for Rs 28 Cr. The acquisition raises eyebrows as it follows reports of financial challenges at TagZ Foods prompting questions about whether this was a strategic buy or a distress sale. Heres all you need to know about the startup and why Mukesh Ambani has acquired it. About TagZ TagZ is a dynamic snacking brand brought to life by Anish Basu Roy and Sagar Bhalotia in 2019. This innovative brand delights consumers with its range of popped potato chips exquisite gourmet dips and delectable cookies. TagZ reaches out to customers via multiple channels including its own dedicated website varied online trading platforms and tangible brick-and-mortar stores. Market condition of TagZ TagZ has managed to draw investments from notable companies such as Dexter Angels Agility Ventures Venture Catalysts and of course Klub. It coexists in a competitive marketplace where brands like BRB Too Yum Lays and Uncle Chips are their top competitors. The fiscal year 2023 painted a clear picture of their financial standing. They reported a net loss of INR 10.7 crore which was juxtaposed against their operating revenue pegged at INR 9.6 crore. TagZ at Shark Tank India Interestingly enough the brand shot to fame after appearing on the Indian television show Shark Tank India. The startup also recently received an exciting boost securing an investment from Shikhar Dhawan the renowned former Indian cricketer. Dhawan isnt just a financial contributor but now sports the cap of TagZs brand ambassador as well. Why Reliance acquired TagZ? The decision by Reliance Consumer Products to acquire TagZ Foods is a strategic move that syncs perfectly with its aim to beef up its direct consumer collection. The vast customer base and savvy operations of Reliance offers a silver lining to breathe new life into the sluggish TagZ brand.